Innospec (NASDAQ:IOSP) Upgraded at StockNews.com

StockNews.com upgraded shares of Innospec (NASDAQ:IOSP) from a buy rating to a strong-buy rating in a report published on Friday morning.

Innospec Stock Performance

NASDAQ:IOSP opened at $108.90 on Friday. Innospec has a one year low of $103.97 and a one year high of $133.71. The firm has a market cap of $2.72 billion, a P/E ratio of 19.01 and a beta of 1.09. The firm has a 50-day simple moving average of $115.08 and a 200-day simple moving average of $115.77.

Innospec (NASDAQ:IOSP) last posted its quarterly earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, meeting the consensus estimate of $1.35. Innospec had a net margin of 7.68% and a return on equity of 13.33%. The business had revenue of $443.40 million during the quarter, compared to analyst estimates of $442.13 million. During the same quarter in the previous year, the business posted $1.59 EPS. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. On average, research analysts predict that Innospec will post 5.88 EPS for the current fiscal year.

Innospec Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a dividend yield of 1.3%. This is an increase from Innospec’s previous Semi-Annual dividend of $0.72. Innospec’s payout ratio is presently 27.57%.

Insider Transactions at Innospec

In other news, Director Milton C. Blackmore sold 1,035 shares of Innospec stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $122.92, for a total value of $127,222.20. Following the transaction, the director now owns 9,028 shares of the company’s stock, valued at $1,109,721.76. The trade was a 10.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.52% of the company’s stock.

Institutional Trading of Innospec

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Innospec by 24.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 266,688 shares of the specialty chemicals company’s stock worth $30,160,000 after purchasing an additional 52,640 shares during the last quarter. Franklin Resources Inc. grew its position in Innospec by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 27,282 shares of the specialty chemicals company’s stock worth $3,116,000 after purchasing an additional 2,154 shares during the last quarter. Sanctuary Advisors LLC grew its position in Innospec by 63.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,152 shares of the specialty chemicals company’s stock worth $377,000 after purchasing an additional 1,225 shares during the last quarter. Geode Capital Management LLC grew its position in Innospec by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 677,283 shares of the specialty chemicals company’s stock worth $76,606,000 after purchasing an additional 24,843 shares during the last quarter. Finally, Barclays PLC grew its position in Innospec by 357.1% during the 3rd quarter. Barclays PLC now owns 44,559 shares of the specialty chemicals company’s stock worth $5,039,000 after purchasing an additional 34,811 shares during the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.